Danske Bank A S bought a new position in Cincinnati Financial Corporation (NASDAQ:CINF – Free Report) during the second quarter, Holdings Channel.com reports. The institutional investor bought 166,389 shares of the insurance provider’s stock, valued at approximately $30,805,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Cincinnati Financial during the 4th quarter valued at about $270,892,000. First Trust Advisors LP increased its position in shares of Cincinnati Financial by 59.4% in the first quarter. First Trust Advisors LP now owns 2,104,457 shares of the insurance provider’s stock worth $331,136,000 after purchasing an additional 784,584 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Cincinnati Financial by 193.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 601,033 shares of the insurance provider’s stock worth $98,161,000 after purchasing an additional 396,086 shares during the last quarter. Raymond James Financial Inc. increased its holdings in shares of Cincinnati Financial by 48.6% in the 2nd quarter. Raymond James Financial Inc. now owns 803,665 shares of the insurance provider’s stock worth $119,682,000 after buying an additional 262,715 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new position in shares of Cincinnati Financial in the 4th quarter worth $32,692,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Bank of America downgraded shares of Cincinnati Financial from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $197.00 to $193.00 in a report on Thursday, July 30th. Roth Capital increased their target price on Cincinnati Financial from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods lowered their price target on Cincinnati Financial from $201.00 to $190.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 5th. Weiss Ratings raised Cincinnati Financial from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, August 6th. Finally, Atlantic Securities set a $197.00 price objective on Cincinnati Financial in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.40.
Cincinnati Financial Stock Performance
NASDAQ:CINF opened at $168.49 on Thursday. The firm has a market cap of $25.86 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 3.59 and a beta of 0.54. Cincinnati Financial Corporation has a fifty-two week low of $150.00 and a fifty-two week high of $194.81. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.31 and a current ratio of 0.31. The business has a 50 day moving average price of $177.98 and a 200-day moving average price of $168.49.
Cincinnati Financial (NASDAQ:CINF – Get Free Report) last issued its earnings results on Monday, July 27th. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.39). Cincinnati Financial had a return on equity of 9.63% and a net margin of 23.84%.The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the business posted $1.97 EPS. Equities research analysts predict that Cincinnati Financial Corporation will post 8.31 earnings per share for the current year.
Cincinnati Financial Profile
Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.
The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.
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